K92 Mining Releases 2024 Sustainability Report: Delivering Sustainable Value
Suite 488 - 1090 West Georgia Street
Vancouver, British Columbia
Canada V6E 3V7
Telephone: +1 (604) 416-4445
Facsimile: +1 (604) 608-9110
www.k92mining.com
NEWS RELEASE
K92 MINING RELEASES 2024 SUSTAINABILITY REPORT: DELIVERING
SUSTAINABLE VALUE
Vancouver, British Columbia, June 5, 2025 - K92 Mining Inc . (“K92” or the “ Company”)
(TSX: KNT; OTCQX: KNTNF) is pleased to announce that it has published its 202 4
Sustainability Report. This is K92’s sixth annual sustainability report, which provides details of
the Company’s Environmental, Social, and Governance (“ESG”) practices and performance.
The 2024 Sustainability R eport was prepared in accordance with the Sustainability Accounting
Standards Board (“ SASB”) Metals and Mining Standard for the sixth consecutive year and
includes continued progression of providing climate disclosures in alignment with the Task Force
on Climate-related Financial Disclosures (“TCFD”) recommendations.
The 202 4 Sustainability Report is available on the K92 website at the following link:
https://k92mining.com/responsible - mining/
Environmental, Social and Governance Highlights:
• 553 days without a lost -time injury (1), and a Total Recordable Injury Frequency Rate
(“TRIFR”) of 0.69.
• 1,790 employees and contractors employed in Papua New Guinea.
• ~92% of total workforce (employees plus contractors) are PNG Nationals with priority
hiring from local communities.
• $96.5 million in procurement from PNG companies, representing 42% of K92’s total
procurement spend.
• $62.6 million in taxes and royalties paid in PNG(2), a 134% increase over 2023.
• $28.0 million invested in local Joint Ventures.
• $6.6 million allocated for the Company’s first PNG Infrastructure Tax Credit Scheme
project.
• Outstanding Community Humanitarian Initiative awarded by the PNG Chamber of
Resources and Energy (“CORE“) for K92’s Sustainable Agriculture Livelihoods Program
(“SLAP“), marking the third consecutive year K92 has received the primary, annual
community award from the CORE.
• Launched the K92 CARES framework, which outlines the Company’s core values,
including a clear commitment to responsible mining practices and a culture of respect for
others.
2
• Advanced work related to the Kainantu Endowment, which was established to provide
scholarships for the advancement of Papua New Guinean students.
• Ongoing alignment with the TCFD recommendations with progress advanced on local
hydropower improvements in support of the Company’s energy and greenhouse gas
(“GHG”) emissions reduction target.
• Continued commitment to local skills development, including a total of 66 tertiary
scholarships awarded; 400+ graduates from the K92 Adult Literacy Program; and multiple
Memoranda of Understanding implemented with PNG universities to help develop a robust
pipeline of skilled mine workers in the country.
• Supplier Code of Conduct and Employment Standard rolled out as part of ongoing due
diligence work related to Canadian Modern Slavery legislation.
John Lewins, K92 Chief Executive Officer and Director, stated, “On behalf of the K92 team, we
are very pleased to publish our 2024 Sustainability Report. The report provides our primary
sustainability disclosures for 2024, while highlighting many of our key initiatives that enable us to
deliver sustainable value for all of our stakeholders.
The past year has been truly transformational for K92, as we advance our plans to become a
world-class, Tier 1 gold mining operation. We achieved notable operational successes during the
year in parallel with significant progress on our Stage 3 and Stage 4 Expansions. Importantly, we
have done so with exemplary safety performance, including achieving 553 consecutive days
without a lost -time injury, a testament to the robust health and safety management systems and
practices we continue to implement.
Our local value -retention initiatives continue to deliver significant value for our local
stakeholders. At the end of 2024, we employed nearly 1,800 employees and contractors and
remained a significant tax contributor within the country, with some $62.6M in taxes and royalties
paid in PNG. We also procured approximately $96.5M from PNG companies, including $28.0M
from unique, local Joint Ventures, which are partnerships between established businesses and
local landowner associations that help deliver significant value for local communities.
Looking ahead, the upcoming year will surely be one of the most important in K92’s young history.
During the year, we look forward to the commissioning of our new 1.2 million-tonnes-per-annum
process plant, associated paste plant, and other key mine infrastructure to support our expansion
plans and continued production growth. We also look forward to working in ongoing partnership
with all our stakeholders to deliver transformational value from our operations – now and into the
future.”
Notes:
(1) As at December 31, 2024. As at March 31, 2025, the number of lost-time injury free days was 643.
(2) Includes corporate tax, payroll tax, import duties, and royalties.
(3) All amounts are in U.S. Dollars unless otherwise noted.
3
About K92
K92 Mining Inc. is engaged in the production of gold, copper and silver at the Kainantu Gold Mine
in the Eastern Highlands province of Papua New Guinea, as well as exploration and development
of mineral deposits in the immediate vicinity of the mine. The Company declared commercial
production from Kainantu in February 2018, is in a strong financial position, and is working to
become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate
on the Blue Lake copper -gold porphyry project was completed in Augus t 2022. K92 is operated
by a team of mining company professionals with extensive international mine -building and
operational experience.
On Behalf of the Company,
John Lewins, Chief Executive Officer and Director
For further information, please contact David Medilek, P.Eng., CFA, President and Chief
Operating Officer at +1-604-416-4445
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward -looking statements” under applicable Canadian securities
legislation. Such forward -looking statements include, without limitation: (i) the results of the Kainantu
Mine Definitive Feasibility Study, including the Stage 3 Expansion, a new standalone 1.2 mtpa process
plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development
of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger
surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.
All statements in this news release that address events or developments that we expect to occur in the future
are forward-looking statements. Forward-looking statements are statements that are not historical facts
and are generally, although not always, id entified by words such as “expect”, “plan”, “anticipate”,
“project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe”
and similar expressions or their negative connotations, or that events or conditions “will”, “wo uld”,
“may”, “could”, “should” or “might” occur. All such forward -looking statements are based on the
opinions and estimates of management as of the date such statements are made. Forward -looking
statements are necessarily based on estimates and assumption s that are inherently subject to known and
unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may
cause our actual results, level of activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking information. Such factors include, without limitation, Public
Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and
other metals in the world markets; fl uctuations in the price and availability of infrastructure and energy
and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common
shares; inherent risks associated with the mining industry, including problems r elated to weather and
climate in remote areas in which certain of the Company’s operations are located; failure to achieve
production, cost and other estimates; risks and uncertainties associated with exploration and development;
uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may
never be converted into mineral reserves; the Company’s ability to carry on current and future operations,
including development and exploration activities at the Arakompa, Kor a, Judd and other projects; the
timing, extent, duration and economic viability of such operations, including any mineral resources or
reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and
assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability
and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion;
4
the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and
copper; failures of information systems or information security threats; political, economic and other risks
associated with the Company’s foreign operations; geopolitical events and other uncertainties, such as the
conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to
which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable
terms when required; the current and future social, economic and political conditions, including
relationship with the communities in Papua New Guinea and other jurisdictions it operates; other
assumptions and factors generally asso ciated with the mining industry; and the risks, uncertainties and
other factors referred to in the Company’s Annual Information Form under the heading “Risk Factors”.
Estimates of mineral resources are also forward -looking statements because they constitute projections,
based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in
the future and/or the anticipated economics of production. The estimation of mineral resources and mineral
reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral
resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any
such estimates is a function of the quantity and quality of available data, and of the assumptions made and
judgments used in engineering and geological interpretation, Forward -looking statements are not a
guarantee of future performance, and a ctual results and future events could materially differ from those
anticipated in such statements. Although we have attempted to identify important factors that could cause
actual results to differ materially from those contained in the forward -looking statements, there may be
other factors that cause actual results to differ materially from those that are anticipated, estimated, or
intended. There can be no assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward -looking statements. The Company disclaims any intention or
obligation to update or revise any forward -looking statements, whether a s a result of new information,
future events or otherwise, except as required by law.